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01-JUNE-2022

Neoenergia to list on Latibex on 7 June

  • The Brazilian energy company, an Iberdrola subsidiary, will be the 19th company to be listed on this international market for Latin American securities.
  • The FTSE Latibex Brazil index, of which the company will become a constituent, has risen 30% so far this year.

Latibex adds a new company. As of 7 June, Iberdrola’s Brazilian energy subsidiary, Neoenergia, will join the international market for Latin American securities operated by BME, a SIX company. The company will be the nineteenth company to list on this market and the twelfth from Brazil.

The company will be included in the FTSE Latibex All Share and subsequently in the FTSE Latibex Brazil indices. The latter has risen 30% so far this year. Neoenergia will also be eligible for inclusion in the selective index of this market, the FTSE Latibex Top.

This addition strengthens the role of Latibex as a meeting point for companies and investors on both sides of the Atlantic and attests to the growing interest of Latin American companies in European financial markets.

Neoenergia is a leading Brazilian grid company with close to 700,000 kilometers of power lines. A renewable energy giant, it controls five distribution companies in 18 states in the country, with 5,300 megawatts of installed capacity, 80% of which are green. Having invested 65 billion reais (around 12.8 billion euros) Neonergia has already established itself as an energy benchmark in Brazil: it has a customer portfolio of 16 million and a 18% market share.

The company, which has a workforce of more than 15,000 people, and generates indirect jobs accounting for more than 28,000 jobs, had a turnover of 41.12 billion Brazilian reais (7.7 billion euros), with growth of 32%. Its EBITDA soared by 52% to 9.856 billion Brazilian reais (1.84 billion euros) and its net profit reached 3.925 billion reais (733 million euros).

The trading code of the company, which has a market capitalisation of 21.9 billion Brazilian reais, about 4.3 billion euros, will be "XNEO".

Auriga Global Investors will act as a specialist broker for the stock.

Latibex was created in 1999 and is the only international market exclusively focused on Latin American securities in euros. It brings European investors closer to the Latin American region through a solid and secure market, supported by the trading and settlement platform of the Spanish stock exchange, now part of the SIX Group. After the incorporation of Neoenergia, Latibex now features twelve Brazilian companies, five Mexican, one Argentinian and one Peruvian.

For more information on Latibex, click here.